Stable footfall, 17% increase in income for Post Office during festive period

As the footfall remained consistent during the peak Christmas period, Post Office enjoyed a 17 per cent increase in income year on year, the network said.

In a trading update, Post Office said it has seen over 51.3 million customer transactions during the four-week period from 30 November, despite the challenging high street environment.

This represented only a marginal decline (-0.5%) from last year.

Income increased 17 per cent across the network compared to the same period in 2019, reaching £66.3 million.

“After a very challenging year for much of the retail sector, I am pleased to see 17 per cent growth in network income over the Christmas period thanks to the hard work of postmasters,” commented Nick Read, Post Office chief executive.

“Our physical presence has been vital across the UK, with customers enjoying the convenience, expert advice and safe hands that our postmasters offer, in addition to the invaluable support they have provided to local communities during the pandemic with 99 per cent of the network remaining open.”

The week beginning 7 December was the busiest week of the year, with 15.1m customer transactions, two thirds of which were mails transactions.

Postmaster variable remuneration increased on average by an estimated 20 per cent compared to the same period last year.

In the period 30 November to 27 December, £1.56 billion was deposited and £630m was withdrawn at Post Office branches, only 10 per cent lower than the same period last year despite the varied levels of COVID-19 related restrictions during the period.

Bill payment volumes were up 27 per cent across Post Office and Payzone during the period.